WALTHAM, Mass. - Nano Dimension Ltd . (NASDAQ:NNDM), a provider of 3D printing solutions, announced today the granting of a U.S. patent for a technology developed by its AI group, DeepCube. The patent, titled "System and method for mimicking a neural network without access to the original training dataset or the target model," enables the training and optimization of decentralized deep learning-based AI models on customer premises without needing direct access to new data or the model.
This technology addresses a common challenge in AI deployment, where customer data sensitivity and confidentiality can limit data sharing. Nano Dimension's approach allows for continuous model training and improvement on-site, enhancing data privacy and security. The patent is part of the company's strategy to transition DeepCube from an internal AI team to a commercial industrial AI solution provider.
DeepCube's platform, which is not confined to additive manufacturing, is designed to operate autonomously on customers' premises and improve its accuracy over time. The patented system's infrastructure relies on Nvidia (NASDAQ:NVDA) graphics processing units (GPUs) for training, with the inference models optimized for Nvidia GPUs and Intel (NASDAQ:INTC) and AMD (NASDAQ:AMD) central processing units (CPUs).
Nano Dimension's CEO Yoav Stern highlighted the company's progress in AI since acquiring DeepCube three years ago, stating that these developments move them closer to offering a commercialized industrial AI solution for broader markets.
The company, which aims to transform traditional manufacturing into environmentally friendly and economically efficient Industry 4.0 solutions, has filed 50 patent applications through DeepCube, with 27 granted across eight different jurisdictions, ensuring global intellectual property protection.
The information in this article is based on a press release statement.
InvestingPro Insights
Nano Dimension Ltd. (NASDAQ:NNDM) continues to make strides in the realm of 3D printing and artificial intelligence, with its recent U.S. patent grant marking a significant milestone. As the company leverages its technological advancements, it's essential for investors to understand the financial health and market performance of NNDM. Here are some insights based on real-time data from InvestingPro and InvestingPro Tips that shed light on the company's current standing.
InvestingPro data indicates that Nano Dimension has a market capitalization of $653.6 million, reflecting its size and scale within the industry. Despite a challenging financial performance with an adjusted P/E ratio for the last twelve months as of Q1 2023 standing at -7.59, the company has exhibited a notable revenue growth of 38.16% during the same period. This growth signifies Nano Dimension's potential to capitalize on the expanding market for 3D printing and AI solutions.
An InvestingPro Tip highlights that the management has been actively buying back shares, which could be a signal of confidence in the company's future prospects. Another tip points out that Nano Dimension holds more cash than debt on its balance sheet, suggesting a solid liquidity position that could support its strategic investments and R&D efforts.
For investors seeking a deeper dive into Nano Dimension's financials and performance metrics, InvestingPro offers additional tips. There are 9 more InvestingPro Tips available, which can be accessed by visiting the dedicated page for NNDM at https://www.investing.com/pro/NNDM. To enhance your InvestingPro experience, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
These insights, coupled with the company's recent technological achievements, provide a more comprehensive view of Nano Dimension's position in the market and its potential trajectory as it aims to revolutionize Industry 4.0 with its innovative solutions.
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